PAYING TAX IS A MATTER OF PRIDE SAVING TAX IS A MATTER OF RIGHT

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1 December 2017 PAYING TAX IS A MATTER OF PRIDE SAVING TAX IS A MATTER OF RIGHT Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

2 Index Details CIO s Communique 1 Equity Markets Round Up 2 Fixed Income Market Update 3 How to Read Factsheet 4 Product Suitability 5 NAV (Net Asset Value) 6 Systematic Investment Plan (SIP) 7 Equity Funds Principal Emerging Bluechip Fund 9 Principal Growth Fund 10 Principal Tax Savings Fund 11 Principal Personal Tax Saver Fund 12 Principal Large Cap Fund 13 Principal Dividend Yield Fund 14 Principal Index Fund - Nifty 15 Principal Arbitrage Fund 16 Hybrid Funds Principal Balanced Fund 17 Principal SMART Equity Fund 18 Principal Equity Savings Fund 19 Fixed Income Funds Principal Cash Management Fund 20 Principal Low Duration Fund 21 Principal Short Term Income Fund 22 Principal Dynamic Bond Fund 23 Principal Credit Opportunities Fund 24 Principal Debt Savings Fund 25 Principal Money Manager Fund 26 Fund of Funds Principal Global Opportunities Fund 27 Principal Asset Allocation Fund-of-Funds (Conservative Plan) 27 Principal Asset Allocation Fund-of-Funds (Aggressive Plan) 28 Principal Asset Allocation Fund-of-Funds (Moderate Plan) 28 Other Details Annexure for returns of all the Schemes 29

3 CIO's Communique On behalf of Principal Mutual Fund, I wish you a very happy, healthy and a prosperous As we enter the new year, I would like to present our Investment Outlook for 2018 and speak briefly about investment options that an investor can look at. CY 2017 In retrospective In 2017, we have witnessed a strong equity market rally with the Nifty 50 Index notching up 28.7% gains on the expectations of a broad economic revival, strong domestic fund flows, likely successful resolution of stressed assets and the recapitalization of banks, expected benefits from a GST rollout and a expectations of general pick up in earnings growth. The market clearly brushed aside early concerns from demonetization and initial hiccups of the GST rollout in Q2 CY But at the end of the CY2017 after a strong market rally, we are now faced with lofty multiples for the equity market which has been supported by strong domestic liquidity from robust MF flows into equity funds. Earnings growth currently remains tepid for the markets, though street expects earnings to recover after bottoming out in the past quarter. On the global front, on the back of a stronger US economy and good earnings growth in 2017 and with expected tax reform by the Trump administration to be rolled out in 2018, we expect the US markets to continue to trend strongly. The strong global economy has however resulted in a rebound in oil prices and we now have oil price above USD 63.5 per barrel. This has impacted the Indian macro picture adversely with current account deficit rising by nearly USD 7.2 Billion (annualised nearly 1.2% of GDP ) over Q The stronger oil price has also spiked up headline inflation and inflation expectations driving up India Gilts yields (with the 10 years yield at about 7.32 % currently) and has dented recent India bond market returns. Further with the current neutral stance maintained by the recent RBI credit policy and caution from rising CPI levels to 4.9% (up from 3.17% in Jan 2017), chances of any rate cuts in the next 6 months would be low. Also, a weaker Dollar and a high positive real rate in India has resulted in a stronger Rupee with the Rupee trading at about Rs / USD, which has impacted the pace of recovery in exports. Having said this, India s macroeconomic parameters remain stable with the recent Sovereign rating upgrade by Moody signaling to investors the overall economic stability backed by ongoing reforms in the economy, steady FDI flows, and forex reserves of over USD 400 Billion. Ahead of general elections in 2019, and particularly after the results of the Gujarat elections it is expected that the government will focus on the rural areas in the budget and broadly in its policy formulation. Hopefully, we should not see many instances of farm loan waiver in CY 18, as the union government has clearly said that the states would need to fund these with no support from the union government. The secular long-term expected growth potential of India over the next 5-7 years is on the back of its strong demographic profile, rising urbanization and consumption growth, an efficient corporate sector, continuing economic reforms and the development agenda of the government that is expected to give a fillip to infrastructure (roads, railways, ports, airports, power) and to rural development. Another very powerful theme going forward would be affordable housing and spread of digitalization under Digital India. Outlook for CY2018 We are cautiously optimistic for the outlook on markets in 2018 because of global market factors, local macroeconomic situation which is stable with some headwinds on inflation, and a busy political season in the run up to the 2019 General Elections. The Union budget for FY19 would be an important near-term market catalyst for India s equity markets, for the overall fiscal situation and the trends in India s Bond markets. While we expect earnings growth, and return ratios to recover over the next 4-6 quarters, (we expect earnings growth to be between 17-20% for FY 19), we expect near term equity market returns to be volatile through How should MF investors navigate the opportunities and risks in 2018? Mutual funds are the ideal vehicles for implementing strategic and tactical asset allocation for realizing financial goals. They offer various solutions to retail investors while leveraging the investment expertise of professionals. Furthermore, Systematic Investment plans (SIPs) in Mutual funds also give investors the opportunity to benefit from rupee-cost averaging and help ride out the ebb and flow of markets and follow a disciplined long-term approach to wealth creation. Mutual funds Sahi Hai is the mantra! Amongst several types of funds offered by Mutual funds, Dynamic asset allocation funds combines dual benefit of diversification as well as rebalancing, based on levels of market valuations. By adjusting the equity exposure these funds aim to deliver superior risk adjusted returns across market regimes. Further these funds dynamically rebalance the equity and fixed income exposures in a tax-efficient manner. Thus, these funds eliminate the need for investors to resort to market-timing and avoid cumbersome rebalancing steps and the associated costs arising from exit loads. In this regard, well managed Dynamic asset allocation funds may be suitable vehicles for coping with short term market volatility while offering calibrated equity exposure and being optimally positioned to capitalize on India s potential growth opportunities and potential future capital appreciation over the longer term. Additionally, Balanced Funds, would also continue to be an attractive investment category in Over the longer term however, core equity products like diversified equity funds and mid cap funds should also do well as we expect the trajectory of Indian markets to be upwards. Thank you and wishing you Happy Investing through this new year. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Rajat Jain Chief Investment Officer The views expressed and information herein are independent views and for informative purpose only and under no circumstances should be construed as an opinion or Investment advice. The information contained herein is not intended to be an offer to seek solicitation for purchase or sale of any financial product or instrument. Investment involves risk. It should be understood that any reference to the securities/ sectors in the document is only for illustration purpose. Past performance is not indicative of future performance and investors may not get back the full amount invested. As an investor you are advised to conduct your own verification and consult your own financial and tax advisor before investing. The Sponsor, Trustee, AMC, Mutual Fund, their directors, officers or their employees shall not be liable in any way for any direct, indirect, special, incidental, consequential, punitive or exemplary damages arising out of the information contained herein. 1

4 EQUITY & DEBT MARKET OUTLOOK Equity Markets Round Up: December 2017 The macroeconomic data was tepid, with rising consumer inflation, and weak IIP data and a lower composite PMI. The PMI was impacted by weakness in the services PMI, the manufacturing PMI was sharply up at A bottom in manufacturing seems to have been formed, though we would need to wait to see the pace of recovery. Among sectors which did well, metals reversed their weak performance of the previous month and were driven by higher commodity prices. Consumer companies did well on expectations of focus on rural areas in the forthcoming budget. Among sectoral performers, financials and energy stocks relatively underperformed. Financials were impacted as bond yields went up meaningfully impacting cost of borrowings and took a breather after a strong run up in the past two months post the news of recapitalization. Oil marketing companies were impacted as crude prices went up and there were concerns about the companies not being able to take price hikes. CPI inflation was up, driven partly by higher vegetable prices likely as result of unseasonal rains. However, even core inflation was higher. Exports grew 31% yoy in November. Non-oil/jewelry exports rose 28% yoy, led by strong recovery in engineering goods exports. However, trade deficit of around USD 14 Billion per month is meaningful and CSFB economists estimate a current account deficit of 1.9% of GDP for FY 19. Equity Market Outlook We are cautiously optimistic for the outlook on markets in 2018 because a host of global market factors, local macroeconomic situation which is stable with some headwinds on inflation, and a busy political season in the run up to the 2019 General Elections. The Union budget for FY19 would be an important near-term market catalyst for India s equity markets, for overall fiscal situation and the trends in India s Bond markets. While we expect earnings growth, and return ratios to recover over the next 4-6 quarters, (we expect earnings growth to be between 17-20% for FY 19), we expect near term equity market returns to be volatile through Data Item % Growth 1 Month 1 year MSCI EM Index (USD) MSCI EM Index (Local) Indian Rupee Dollar Index (DXY) Crude Oil- Brent CRB Index Gold Copper Iron Ore Cotton (Cotlook A Index) Data as on 29th Dec Source: Bloomberg Indicators Nov-17 Dec-17 FII net flows (Rs. Crs) 19, , Mutual Fund net flows (Rs. Crs) 10, , Exports (USD Billion) Imports (USD Billion) CPI IIP Data as on 29th Dec Souce: Bloomberg, NSDL and Sebi websites 2

5 Performance As on December 29, 2017* Broad Indices Index 1 Month 3 Months 6 Months 1 Year Nifty S&P BSE Sensex S&P BSE S&P BSE S&P BSE S&P BSE MID CAP S&P BSE SMALL CAP *Performance for less than one year are absolute returns. Source - MFI Explorer Sectoral Indices Index 1 Month 3 Months 6 Months 1 Year S&P BSE AUTO S&P BSE Bankex S&P BSE CD S&P BSE CG S&P BSE FMCG S&P BSE HC S&P BSE METAL S&P BSE Oil & Gas S&P BSE PSU S&P BSE Teck Fixed Income Market Update: December 2017 Key Market Highlights: During the month, rates went up across all asset classes with sharp rise across gilts and corporate bonds. Liquidity tightness, fiscal slippage concerns, rise in CPI and global crude oil prices and increase in government borrowing programme were the main factors. The ten year gilt benchmark closed the month at 7.35%, 30 bps higher from previous month. The ten year AAA Corporate bond benchmark closed at 8.04%, 21 bps higher than previous month. The five year AAA corporate bond benchmark closed at 7.80%, 36 bps higher as compared to previous month. Ten year SDL spreads further contracted to be in a range of 50 bps to the ten year gilt benchmark. 1 year CD rates closed at 6.75%, 13 bps higher than previous month. 1 year T bill yield closed 14 bps higher at 6.41%. 3 month CD rates closed at 6.37% (16 bps higher) and 3 month T bill yields rose marginally to 6.15%. Brent Crude oil prices rose further during the month to USD per barrel. INR appreciated and closed the month at as compared to the previous month. For the month of December, FIIs turned net buyers in the debt market to the tune of Rs 3492 cr. India s Nov trade deficit printed at USD bn, similar to previous month. The ten year benchmark US treasury yield remained flat at The US FOMC hiked key Federal funds rate by 25 bps as was widely expected. The range is now November WPI data release came at 3.93% as compared to 3.59% in previous month. CPI for November came at 4.88% compared to 3.58% in previous month. Oct Industrial production (IIP) growth came at 2.2% compared to 4.1% for previous month. Banking system liquidity turned to negative mode in the second half of the month due to higher than expected t bill auction outflows and currency in circulation. For the month banks lent on an average Rs 9126 Cr at various RBI liquidity facilities put together reflecting a sharp fall from previous month. The Centre s fiscal deficit rose to Rs 6.12 lakh crore or 112 per cent of the Budget target between April and November Towards the end of the month government announced extra borrowing of Rs 50,000 cr via dated GSecs for the fourth quarter of FY18. The net T bill issuance has also been revised upwards to Rs cr as against the budgeted Rs 2000 cr for FY 18. Gilt yields rose post the announcement. Outlook: Banking system liquidity is expected to remain in neutral zone on auction outflows and subdued government spending. Short term Money market rates are expected to remain stable with an upward bias as liquidity tightens further. The ten year benchmark trade is expected in a range of 7.20% to 7.45% in the near term due to supply and fiscal concerns. However as absolute yields look attractive intermittent buying may emerge. Cutoffs at weekly auctions will be key to movements. 10 year Corporate bond spreads may remain tight as gilt supply expected to exceed corporate bond supply in this segment and absolute yields hover around 8%. 3

6 How to Read Factsheet Fund Manager - An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts. Application Amount For Fresh Subscription - This is the minimum investment amount for a new investor in a mutual fund scheme. Minimum Additional Amount - This is the minimum investment amount for an existing investor in a mutual fund scheme. Yield To Maturity - The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond s current market price, par value, coupon interest rate and time to maturity. SIP - SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SlP that invests 500 every 15 th of the month in an equity fund for a period of three years. NAV - The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund. Benchmark - A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year G-sec. Entry Load - A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is 100 and the entry load is 1%, the investor will enter the fund at 101. Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit Load - Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is 100 and the exit load is 1%, the redemption price would be 99 per unit. Modified Duration - Modified duration is the price sensitivity and the percentage change in price for a unit change in yield. Standard Deviation - Standard deviation is a statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility. Sharpe Ratio - The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta - Beta is a measure of an investment s volatility vis-a-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security s price will be more volatile than the market. AUM - AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm. Holdings - The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager. Nature Of Scheme - The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have subcategories. Rating Profile - Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds. MAAUM - Monthly Average Asset Under Management ++ ICRA has assigned credit risk rating of [ICRA]A1+mfs to Principal Low Duration Fund and Principal Cash Management Fund. The rating is the highestcredit-quality short-term rating assigned by ICRA to debt funds. Rating methodology used by ICRA is based on evaluating the inherent credit quality of the mutual funds portfolio. As a measure of the credit quality of a debt fund s assets, ICRA uses the concept of credit scores, based on ICRA s assessment of credit risk associated with each exposure of the portfolio taking into account its maturity. To quantify the credit risk scores, ICRA uses its database of historical default rates for various rating categories for various maturity buckets. The credit risk ratings incorporate ICRA s assessment of a debt fund s published investment objectives and policies, its management characteristics, and the creditworthiness of its investment portfolio. ICRA reviews relevant fund information on an ongoing basis to support its published rating opinions. If the portfolio credit score meets the benchmark of the assigned rating during the review, the rating is retained. In an event that the benchmark credit score is breached, ICRA gives a month s time to the debt fund manager to bring the portfolio credit score within the benchmark credit score. If the debt fund manager is able to reduce the portfolio credit score within the benchmark credit score, the rating is retained. If the portfolio still continues to breach the benchmark credit score, the rating is revised to reflect the change in credit quality. The ratings should, however, not be construed as an indication of the prospective performance of the Mutual fund scheme or of volatility in its returns. ICRA ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments. ICRA ratings are subject to a process of surveillance which may lead to a revision in ratings. Source: ICRA Ltd. ++ CARE s fund credit quality rating is not a recommendation to purchase, sell, or hold a security / fund. It neither comments on the current market price, suitability for a particular investor nor on the prospective performance of the fund with respect to appreciation, volatility of net asset value (NAV), or yield of the fund. The ratings do not address the funds ability to meet the payment obligations to the investors. The ratings are based on current information furnished to CARE by the issuer or obtained by CARE from sources it considers reliable. CARE does not, however, guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. CARE does not perform an audit in connection with any rating and may, on occasion, rely on unaudited information. The ratings may be changed, suspended, or withdrawn as a result of changes in, or unavailability of, such information, or based on other circumstances. Funds rated by CARE have paid a rating fee. DISCLAIMER: Mutual Fund investments are subject to market risks, read all scheme related documents carefully. This factsheet is for informative purpose only and under no circumstances is to be used or considered as an investment advice. Terms of issue / load structure/ Scheme specific risk factors are set forth in the Scheme Information Document(SID). Copy of the same is available at all our Investor Service Centres. Alternatively, Investor can download the SID from our website - or can call us at to get a copy of the same. 4

7 Product Suitability Scheme Names This product is suitable for investors who are seeking~ Riskometer Principal Large Cap Fund (An Open-ended Equity Scheme) Principal Emerging Bluechip Fund (An Open-ended Equity Scheme) Principal Growth Fund (An Open-ended Equity Scheme) Principal Dividend Yield Fund (An Open-ended Equity Scheme) Principal Index Fund - Nifty (An Open-ended Index Scheme) Principal SMART Equity Fund (An Open-ended Equity Scheme) Principal Personal Tax Saver Fund (An Open-ended Equity Linked Savings Scheme) Principal Tax Savings Fund (An Open-ended Equity Linked Savings Scheme) Principal Balanced Fund (An Open-ended Equity Scheme) Principal Equity Savings Fund (An Open-ended Equity Scheme) Principal Asset Allocation Fund-of-Funds - Conservative Plan (An Open-ended Fund-of-Funds Scheme) Principal Asset Allocation Fund-of-Funds - Moderate Plan (An Open-ended Fund-of-Funds Scheme) Principal Asset Allocation Fund-of-Funds - Aggressive Plan (An Open-ended Fund-of-Funds Scheme) Principal Debt Savings Fund (An Open-ended Income Scheme) Principal Dynamic Bond Fund (An Open-ended Income Scheme) Principal Credit Opportunities Fund (An Open-ended Debt Scheme) Long term Capital Growth. Investment in equity & equity related securities including equity derivatives of large capitalization Companies Long term Capital Growth. Investment in equity & equity related securities including equity derivatives of mid & small capitalization Companies. Long term Capital Growth. Investment in equity & equity related securities including equity derivatives of companies across market capitalization. Long term Capital Growth. Investment in equity & equity related securities including equity derivatives of high dividend yield Companies. Long term Capital Growth. Investment in equity securities including equity derivatives of Nifty 50 Companies. Long term Capital Growth. Investment in equity & equity related securities including equity derivatives of large capitalization Companies as well as Debt/ Money Market securities through a systematic allocation of Funds between Equity & Debt on the basis of the Price Earnings Ratio of Nifty 50. Long term Capital Growth with a three year lock-in. Investment in equity & equity related securities including equity derivatives of large capitalization Companies. Long term Capital Growth with a three year lock-in. Investment in equity & equity related securities including equity derivatives of companies across market capitalization. Income and Long term Capital Growth. Investment in equity & equity related securities, debt/money market securities as well as derivatives. Income generation and capital appreciation over the medium to long term. Investment in equity and equity related instruments, debt and money market instruments and arbitrage opportunities. Income and Capital growth over a long term investment horizon. Investment primarily in debt/money market mutual funds with some exposure to equity mutual funds. Capital growth and Income over a long term investment horizon. Investment in a basket of equity mutual funds, debt/money market mutual funds and Gold ETFs. Capital growth over a long term investment horizon. Investment primarily in equity mutual funds with some allocation to debt/money market mutual funds and Gold ETFs. Income over a long term investment horizon. Investment in Debt & Money Market Instruments. Income over a long term investment horizon. Investment in Debt & Money Market Instruments. Income over a long term investment horizon. Investment in Debt & Money Market Instruments of Private & Public Sector Companies. Principal Short Term Income Fund (An Open-ended Income Scheme) Income over a medium term investment horizon. Investment in Debt & Money Market Instruments. Principal Arbitrage Fund (An Open-ended Equity Scheme) Principal Low Duration Fund (An Open-ended Debt Scheme) Income over short-term. Income through arbitrage opportunities between cash and derivative market and arbitrage opportunities within the derivative segment. Income over a short term investment horizon. Investment in Debt & Money Market Instruments. Principal Money Manager Fund (An Open-ended Money Market Scheme) Income over a short term investment horizon. Investment in Money Market Instruments. Principal Global Opportunities Fund (An Open-ended Fund of Funds Scheme) Long term Capital Growth. Investment in overseas mutual fund schemes. Principal Cash Management Fund (An Open-ended Liquid Scheme) Income over a short term investment horizon. Investment in Debt & Money Market Instruments, with maturity not exceeding 91 days. ~ Investors should consult their financial advisers if in doubt about whether the product is suitable for them. 5

8 NAV (Net Asset Value) (As on December 29, 2017) Equity Funds Principal Emerging Bluechip Fund () Principal Growth Fund () Principal Tax Savings Fund () Regular Plan - Growth Regular Plan - Growth Regular Plan - Growth Regular Plan - Half Yearly Dividend Option Regular Plan - Half Yearly Dividend Option Regular Plan - Half Yearly Dividend Option Direct Plan - Growth Direct Plan - Growth Direct Plan - Growth Direct Plan - Half Yearly Dividend Option Direct Plan - Half Yearly Dividend Option Direct Plan - Half Yearly Dividend Option Principal Personal Tax Saver Fund () Principal Large Cap Fund () Principal Dividend Yield Fund () Regular Plan - Growth Regular Plan - Growth Regular Plan - Growth Direct Plan - Growth Regular Plan - Half Yearly Dividend Option Regular Plan - Half Yearly Dividend Option Direct Plan - Growth Direct Plan - Growth Direct Plan - Half Yearly Dividend Option Direct Plan - Half Yearly Dividend Option Principal Index Fund - Nifty () Principal Arbitrage Fund () Regular Plan - Growth Regular Plan - Growth Regular Plan - Dividend Regular Plan - Monthly Dividend Option Direct Plan - Growth Direct Plan - Growth Direct Plan - Dividend Direct Plan - Monthly Dividend Option Hybrid Funds Principal Balanced Fund () Principal SMART Equity Fund () Principal Equity Savings Fund () Regular Plan - Growth Regular Plan - Growth Regular Plan - Growth Regular Plan - Monthly Dividend Option Regular Plan - Monthly Dividend Option Regular Plan - Quaterly Dividend Option Direct Plan - Growth Direct Plan - Growth Regular Plan - Half Yearly Dividend Option Direct Plan - Monthly Dividend Option Direct Plan - Monthly Dividend Option Direct Plan - Growth Direct Plan - Quaterly Dividend Option Direct Plan - Half Yearly Dividend Option Fixed Income Funds Principal Cash Management Fund (as on December 31, 2017) () Principal Low Duration Fund () Principal Short Term Income Fund () Regular Plan - Growth Regular Plan - Growth Regular Plan - Growth Regular Plan - Daily Dividend Option Regular Plan - Daily Dividend Option Regular Plan - Monthly Dividend Option Regular Plan - Weekly Dividend Option Regular Plan - Weekly Dividend Option Direct Plan - Growth Regular Plan - Monthly Dividend Option Regular Plan - Monthly Dividend Option Direct Plan - Monthly Dividend Option Direct Plan - Growth Direct Plan - Growth Direct Plan - Daily Dividend Option Direct Plan - Daily Dividend Option Direct Plan - Weekly Dividend Option Direct Plan - Weekly Dividend Option Direct Plan - Monthly Dividend Option Direct Plan - Monthly Dividend Option Principal Dynamic Bond Fund () Principal Credit Opportunities Fund () Principal Debt Savings Fund () Regular Plan - Growth Regular Plan - Growth Regular Plan - Growth Regular Plan - Quaterly Dividend Option Regular Plan - Monthly Dividend Option Regular Plan - Monthly Dividend Option Regular Plan - Annually Dividend Option Direct Plan - Growth Regular Plan - Quaterly Dividend Option Direct Plan - Growth Direct Plan - Monthly Dividend Option Direct Plan - Growth Direct Plan - Quaterly Dividend Option Direct Plan - Annually Dividend Option Principal Money Manager Fund Regular Plan - Growth Regular Plan - Daily Dividend Option Regular Plan - Weekly Dividend Option Regular Plan - Monthly Dividend Option Direct Plan - Growth Direct Plan - Monthly Dividend Option () Fund of Funds Principal Global Opportunities Fund () Principal Asset Allocation Fund-of-Funds (CP) Principal Asset Allocation Fund-of-Funds (AP) Regular Plan - Growth Regular Sub Plan - Growth Regular Sub Plan - Growth Regular Plan - Dividend Direct Sub Plan - Growth Direct Sub Plan - Growth Direct Plan - Growth Direct Plan - Dividend Principal Asset Allocation Fund-of-Funds (MP) Regular Sub Plan - Growth Direct Sub Plan - Growth

9 Systematic Investment Plan (SIP) (As on December 29, 2017) SCHEMES MANAGED BY MR. DHIMANT SHAH Particulars Principal Emerging Bluechip Fund - Growth Total Amount Invested (in ) Scheme s Scheme s Benchmark (Nifty Free Float Midcap 100 Index) Additional Benchmark (Nifty 50) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,44, % 1,44, % 1,33,477 3 Years SIP 3,60, % 5,33, % 5,20, % 4,40,891 5 Years SIP 6,00, % 12,59, % 11,16, % 8,31,218 7 Years SIP 8,40, % 22,50, % 17,91, % 13,03,270 Since Inception SIP 10,90, % 36,51, % 27,05, % 19,08,412 Inception Date - November 12, 2008 Particulars Principal Dividend Yield Fund - Growth Total Amount Invested (in ) Scheme s Scheme s Benchmark (Nifty Dividend Opportunities 50 Index) Additional Benchmark (Nifty 50) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,45, % 1,32, % 1,33,477 3 Years SIP 3,60, % 5,15, % 4,52, % 4,40,891 5 Years SIP 6,00, % 10,16, % 8,20, % 8,31,218 7 Years SIP 8,40, % 16,05, % 12,45, % 13,03, Years SIP 12,00, % 27,70, % 22,41, % 21,67,909 Since Inception SIP 15,80, % 42,21,800 NA NA 11.43% 35,17,084 Inception Date - October 15, 2004 Particulars Principal Large Cap Fund - Growth Total Amount Invested (in ) Scheme s Scheme s Benchmark (S&P BSE 100 Index) Additional Benchmark (Nifty 50) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,35, % 1,34, % 1,33,477 3 Years SIP 3,60, % 4,57, % 4,51, % 4,40,891 5 Years SIP 6,00, % 9,11, % 8,58, % 8,31,218 7 Years SIP 8,40, % 14,66, % 13,51, % 13,03, Years SIP 12,00, % 25,99, % 22,49, % 21,67,909 Since Inception SIP 14,50, % 35,77, % 29,80, % 28,77,263 Inception Date - November 11, 2005 SCHEMES MANAGED BY MR. P.V.K. MOHAN Particulars Principal Growth Fund - Growth Total Amount Invested (in ) Scheme s Scheme s Benchmark (S&P BSE 200 Index) Additional Benchmark (Nifty 50) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,44, % 1,36, % 1,33,477 3 Years SIP 3,60, % 5,21, % 4,59, % 4,40,891 5 Years SIP 6,00, % 10,94, % 8,89, % 8,31,218 7 Years SIP 8,40, % 18,49, % 14,04, % 13,03, Years SIP 12,00, % 31,03, % 23,47, % 21,67,909 Since Inception SIP 20,60, % 1,12,46, % 89,47, % 77,21,709 Inception Date - October 25, 2000 Particulars Principal Tax Savings Fund Total Amount Invested (in ) Scheme s Scheme s Benchmark (S&P BSE 200 Index) Additional Benchmark (Nifty 50) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,44, % 1,36, % 1,33,477 3 Years SIP 3,60, % 5,21, % 4,59, % 4,40,891 5 Years SIP 6,00, % 10,93, % 8,89, % 8,31,218 7 Years SIP 8,40, % 18,53, % 14,04, % 13,03, Years SIP 12,00, % 31,00, % 23,47, % 21,67,808 Since Inception SIP 26,00, % 2,69,14, % 1,44,22, % 1,22,17,866 Inception Date - March 31, 1996 Different plans shall have a different expense structure. shown above are for Regular Plan - Growth option. Past performance may or may not be sustained in the future. The returns shown above are calculated using XIRR approach (CAGR ) assuming investment of 10,000/- on the 1st business day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions. Load is not taken into consideration for computation of performance. For performance of all schemes, Investors are advised to refer section on page 29. Disclaimer: The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. SIP does not assure a profit or guarantee protection against a loss in a declining market. Mr. Dhimant Shah manages Principal Emerging Bluechip Fund w.e.f June 2011, Principal Dividend Yield Fund w.e.f December 2011 and Principal Large Cap Fund w.e.f July 2017 Mr. P.V.K. Mohan manages Principal Growth Fund w.e.f September 2010 and Principal Tax Savings Fund w.e.f September

10 Systematic Investment Plan (SIP) (As on December 29, 2017) SCHEMES MANAGED BY MR. P.V.K. MOHAN Particulars Particulars Principal Personal Tax Saver Fund - Growth* Total Amount Invested (in ) Scheme s Scheme s Benchmark (S&P BSE 100 Index) Additional Benchmark (Nifty 50) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,37, % 1,34, % 1,33,477 3 Years SIP 3,60, % 4,64, % 4,51, % 4,40,891 5 Years SIP 6,00, % 9,25, % 8,58, % 8,31,218 7 Years SIP 8,40, % 14,87, % 13,51, % 13,03, Years SIP 12,00, % 24,83, % 22,49, % 21,67,636 Since Inception SIP 26,00, % 3,06,75, % 1,43,77, % 1,28,74,611 Inception Date - March 31, 1996 Particulars Principal Equity Savings Fund - Growth Total Amount Invested (in ) Principal Smart Equity Fund - Growth Total Amount Invested (in ) Scheme s Scheme s Benchmark (Crisil Balanced Fund - Aggressive Index) Additional Benchmark (Nifty 50) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,26, % 1,29, % 1,33,477 3 Years SIP 3,60, % 4,07, % 4,28, % 4,40,891 5 Years SIP 6,00, % 7,90, % 8,05, % 8,31,218 Since Inception SIP 8,40, % 12,70, % 12,57, % 13,03,489 Inception Date - December 16, 2010 Scheme s Scheme s Benchmark (30% Nifty % Crisil Liquid Fund Index) SCHEME MANAGED BY MR. P.V.K. MOHAN & MS. BEKXY KURIAKOSE Additional Benchmark (Crisil 10 year Gilt Index) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,26, % 1,35, % 1,18,363 3 Years SIP 3,60, % 4,14, % 4,20, % 3,91,043 5 Years SIP 6,00, % 7,45, % 7,66, % 7,16,328 7 Years SIP 8,40, % 11,20, % 11,78, % 10,82, Years SIP 12,00, % 17,80, % 19,05, % 16,94,442 Since Inception SIP 18,70, % 35,53, % 41,84, % 31,50,385 Inception Date - May 23, 2002 Particulars Principal Balanced Fund - Growth Total Amount Invested (in ) Scheme s Scheme s Benchmark (Crisil Balanced Fund - Aggressive Index) Additional Benchmark (Nifty 50) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,39, % 1,29, % 1,33,477 3 Years SIP 3,60, % 4,94, % 4,28, % 4,40,891 5 Years SIP 6,00, % 9,87, % 8,05, % 8,31,218 7 Years SIP 8,40, % 16,08, % 12,57, % 13,03, Years SIP 12,00, % 27,08, % 20,83, % 21,67,909 Since Inception SIP 21,50, % 96,84, % 51,43, % 82,41,722 Inception Date - January 14, 2000 SCHEME MANAGED BY MR. RAJAT JAIN Particulars Principal Index Fund - Nifty - Growth Total Amount Invested (in ) Scheme s Scheme s Benchmark (Nifty 50 Index) Additional Benchmark (S&P BSE Sensex) Yield Market Value (in ) Yield Market Value (in ) Yield Market Value (in ) 1 Year SIP 1,20, % 1,33, % 1,33, % 1,33,726 3 Years SIP 3,60, % 4,42, % 4,40, % 4,36,809 5 Years SIP 6,00, % 8,35, % 8,31, % 8,14,716 7 Years SIP 8,40, % 13,13, % 13,03, % 12,75, Years SIP 12,00, % 21,78, % 21,68, % 21,16,547 Since Inception SIP 22,10, % 82,42, % 88,35, % 88,80,348 Inception Date - July 27, 1999 Different plans shall have a different expense structure. shown above are for Regular Plan - Growth option. Past performance may or may not be sustained in the future. The returns shown above are calculated using XIRR approach (CAGR ) assuming investment of 10,000/- on the 1st business day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions. Load is not taken into consideration for computation of performance. For performance of all schemes, Investors are advised to refer section on page 29. Disclaimer: The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. SIP does not assure a profit or guarantee protection against a loss in a declining market. Mr. P.V.K. Mohan manages Equity Portion of Principal Equity Savings Fund w.e.f June 2016, Principal Personal Tax Saver Fund w.e.f July 2017 and Equity Portion of Principal SMART Equity Fund w.e.f July 2017 Ms. Bekxy Kuriakose is managing Debt Portion of Principal Balanced Fund w.e.f March 2016 and Debt Portion of Principal SMART Equity Fund (w.e.f. January 01, 2018) Mr. Pankaj Jain manages Debt Portion of Principal Equity Savings Fund (w.e.f. January 01, 2018) Mr. Rajat Jain manages Principal Index Fund - Nifty w.e.f August 2015 *Fresh sale of units i.e. by way of purchase/ Switch-ins and registration of fresh SIP arrangement under the Scheme is suspended till further notice. 8

11 Principal Emerging Bluechip Fund (An open-ended equity scheme) Investment Objective: To achieve long-term capital appreciation by investing in equity & equity related instruments of Mid Cap & Small Cap companies. Note: ^ The above measures have been calculated by taking rolling returns for a 3 year period with 6.20% risk free rate of return (1 days - MIBOR Rate as on December 29, 2017). ** The Turnover Rate (PTR) means the lower of aggregate sales or purchases made during the 12 month rolling year/period divided by the 12 month rolling year/period Average asset under Management for the relevant year/period. # Total Expense Ratio is weighted average for the month. Ratio excludes GST on management fees. Market Cap Allocation (As on December 29, 2017) (% of NAV) 100% 80% 60% Minimum Investment Amount () New Investor- 5,000 SIP- 2,000 Existing Investor- 1,000 STP- 1,000 RWP % Asset Under Managment ( Cr) MAAUM: 1, AUM: 1, Exit Load: If redeemed on or before 1 Year from the date of allotment - 1% Regular Plan: November 12, 2008 Direct Plan: January 2, 2013 Benchmark: Nifty Free Float Midcap 100 Index Options Both the Plans offer Growth & Half Yearly Dividend Option. Half Yearly Dividend Option under both the Plans offers facility of Payout, Reinvestment and Sweep. Name: Dhimant Shah Managing Since: June 2011 Total Experience: 26 years Ratios & Other Details (As on December 29, 2017) Standard Deviation^ (Annualised): 15.51% Beta^ : 0.98 Sharpe Ratio^ (Annualised) : 0.91 Turnover Ratio**: 0.68 Direct Plan % Regular Plan % Sector Allocation (As on December 29, 2017) (% of NAV) 40% 20% 13.95% 8.09% 2.40% 0.42% 1.06% 0% Equity & Equity Related Instruments of Mid Cap & Other Companies Equity & Equity Related Instruments of Small Cap Companies Equity and equity related instruments of Companies other than Mid & Small Cap Cash and Money Market / Fixed Income Securities (including MIBOR Linked Short Term Papers & Securitised Debt) Mutual Funds Derivatives Banks 10.55% Industrial Products 9.40% Finance 7.08% Consumer Durables 5.88% Chemicals 5.71% Auto Ancillaries 5.66% Cement 5.45% Consumer Non Durables 4.82% Gas 4.28% Construction Project 4.15% Pharmaceuticals 3.74% Transportation 3.21% Software 3.11% Textile Products 3.00% Construction 2.86% Auto 2.61% Petroleum Products 2.32% Ferrous Metals 2.26% Media & Entertainment 2.02% Industrial Capital Goods 2.01% Non - Ferrous Metals 1.76% Commercial Services 1.40% Textiles - Cotton 1.10% Pesticides 1.01% Textiles - Synthetic 0.73% Market Cap Range for Nifty Free Float Midcap 100 Stocks As on 29th September, 2017: 1,25, Cr 4, Crs Name % of NAV Banks 9.85 IndusInd Bank Ltd ICICI Bank Ltd HDFC Bank Ltd State Bank of India 1.34 Kotak Mahindra Bank Ltd Karur Vysya Bank Ltd City Union Bank Ltd Yes Bank Ltd Industrial Products 9.40 AIA Engineering Ltd Finolex Industries Ltd Finolex Cables Ltd Graphite India Ltd Ramkrishna Forgings Ltd Schaeffler India Ltd Jain Irrigation Systems Ltd Mold-Tek Packaging Ltd Finance 7.08 Bajaj Finance Ltd Bharat Financial Inclusion Ltd Mahindra & Mahindra Financial Services Ltd Dewan Housing Finance 0.98 ICICI Prudential Life Insurance Company Ltd Housing and Urban Development 0.81 Muthoot Finance Ltd Chemicals 5.71 Navin Fluorine International Ltd Tata Chemicals Ltd Gujarat Narmada Valley Fertilizers & Chemicals Ltd Atul Ltd Himadri Speciality Chemical Ltd Cement 5.45 Shree Cements Ltd Birla 1.15 Dalmia Bharat Ltd Grasim Industries Ltd The India Cements Ltd Consumer Durables 5.09 Dixon Technologies (India) Ltd Bajaj Electricals Ltd Orient Paper & Industries Ltd Bata India Ltd Sheela Foam Ltd Auto Ancillaries 4.99 MRF Ltd Motherson Sumi Systems Ltd Exide Industries Ltd Gabriel India Ltd Consumer Non Durables 4.59 Britannia Industries Ltd United Spirits Ltd Parag Milk Foods Ltd Gas 4.28 Indraprastha Gas Ltd Petronet LNG Ltd Gujarat State Petronet Ltd Principal Emerging Bluechip Fund Name % of NAV Construction Project 3.77 Voltas Ltd KEC International Ltd NCC Ltd Pharmaceuticals 3.74 Natco Pharma Ltd Aurobindo Pharma Ltd Torrent Pharmaceuticals Ltd Transportation 3.21 Container Corporation of India Ltd Spicejet Ltd TCI Express Ltd Software 3.11 Cyient Ltd L&T Technology Services Ltd Infosys Ltd Textile Products 3.00 Raymond Ltd SRF Ltd S. P. Apparels Ltd Construction 2.86 PSP Projects Ltd NBCC (India) Ltd Asian Granito India Ltd Auto 2.61 Eicher Motors Ltd Petroleum Products 2.32 Hindustan Petroleum 1.44 Indian Oil 0.88 Ferrous Metals 2.26 Jindal Steel & Power Ltd Shankara Building Products Ltd Media & Entertainment 2.02 Sun TV Network Ltd PVR Ltd Industrial Capital Goods 2.01 Bharat Electronics Ltd BEML Ltd Non - Ferrous Metals 1.76 Hindalco Industries Ltd Hindustan Zinc Ltd Commercial Services 1.40 Security and Intelligence Services (I) Ltd Textiles - Cotton 1.10 Vardhman Textiles Ltd Pesticides 1.01 UPL Ltd Other Equities * 3.50 Total Equity DERIVATIVES 1.06 Punjab National Bank 0.55 Bank of Baroda 0.51 Investment Funds/Mutual Funds 0.42 Principal Short Term Income Fund - Direct Plan - Growth Option 0.32 Principal Cash Management Fund - Growth Option 0.10 CBLO / Reverse Repo Investments 3.07 Cash & Cash Equivalents * Holdings less than 0.75% Nifty Free Float Midcap 100 Index Nifty 50 1 Year ( to ) Years ( to ) Years ( to ) Since Inception ( to ) Past performance may or may not be sustained in future. (in %) are calculated on Compounded Annualised Basis (CAGR). $ PTP (Point to Point) are based on standard investment of 10,000/- made at the beginning of relevant period. Performance Please refer page 7 & 8 for SIP returns and page 29 for annexure of returns for all scheme managed by the fund manager. Dividend (/Unit)* Cum Dividend NAV Dividend (/Unit)* Cum Dividend NAV 15-Dec N.A. N.A. 16-Jun N.A. N.A. 23-Dec N.A. N.A. Past performance may or may not be sustained in the future. * On face value of 10. Note: All Dividend (/Unit) figures are Gross Dividend. Pursuant payment of dividend, the NAV of Dividend Option of schemes/plans would fall to the extent of payout and statutory levy, if applicable. 9

12 Investment Objective: To achieve long-term capital appreciation. Principal Growth Fund (An open-ended equity scheme) Note: ^ The above measures have been calculated by taking rolling returns for a 3 year period with 6.20% risk free rate of return (1 days - MIBOR Rate as on December 29, 2017). ** The Turnover Rate (PTR) means the lower of aggregate sales or purchases made during the 12 month rolling year/period divided by the 12 month rolling year/period Average asset under Management for the relevant year/period. # Total Expense Ratio is weighted average for the month. Ratio excludes GST on management fees. Minimum Investment Amount () New Investor- 5,000 SIP- 2,000 Existing Investor- 1,000 STP- 1,000 RWP- 500 Asset Under Managment ( Cr) MAAUM: AUM: Exit Load: 1% - If redeemed within 365 days from the date of allotment. Nil - If redeemed after 365 days from the date of allotment. Regular Plan: October 25, 2000 Direct Plan: January 2, 2013 Benchmark: S&P BSE 200 Index Options Both the Plans offer Growth & Half Yearly Dividend Option. Half Yearly Dividend Option under both the Plans offers facility of Payout, Reinvestment and Sweep. Name: P.V.K. Mohan Managing Since: September 2010 Total Experience: 24 years Ratios & Other Details (As on December 29, 2017) Standard Deviation^ (Annualised): 15.64% Beta^ : 1.16 Sharpe Ratio^ (Annualised) : 0.71 Turnover Ratio**: 0.40 Direct Plan % Regular Plan % Name % of NAV Banks HDFC Bank Ltd ICICI Bank Ltd State Bank of India 2.84 Kotak Mahindra Bank Ltd Karur Vysya Bank Ltd Bank of Baroda 1.18 City Union Bank Ltd Vijaya Bank 0.98 Canara Bank 0.94 Axis Bank Ltd Syndicate Bank 0.90 Yes Bank Ltd The Federal Bank Ltd Consumer Non Durables United Spirits Ltd Bombay Burmah Trading 2.07 Dabur India Ltd Britannia Industries Ltd ITC Ltd GlaxoSmithKline Consumer Healthcare Ltd Pharmaceuticals 5.74 Aurobindo Pharma Ltd Sun Pharmaceutical Industries Ltd Dishman Carbogen Amcis Ltd Abbott India Ltd Natco Pharma Ltd Construction Project 5.43 KEC International Ltd Larsen & Toubro Ltd Hindustan Construction Company Ltd Auto 5.42 Maruti Suzuki India Ltd Tata Motors Ltd Hero MotoCorp Ltd Chemicals 5.30 Rain Industries Ltd Phillips Carbon Black Ltd Gujarat Narmada Valley Fertilizers & Chemicals Ltd Cement 5.20 Birla 1.17 The India Cements Ltd Ultratech Cement Ltd JK Cement Ltd Century Textiles & Industries Ltd Software 5.19 Infosys Ltd Tata Consultancy Services Ltd HCL Technologies Ltd Name % of NAV Power 4.57 NTPC Ltd Kalpataru Power Transmission Ltd Tata Power Company Ltd Rattanindia Power Ltd Finance 4.48 Housing Development Finance 1.80 Dewan Housing Finance 1.48 Shriram Transport Finance Company Ltd Petroleum Products 3.91 Reliance Industries Ltd Castrol India Ltd Auto Ancillaries 3.67 Asahi India Glass Ltd Rico Auto Industries Ltd Industrial Products 3.09 Jain Irrigation Systems Ltd Ramkrishna Forgings Ltd Consumer Durables 2.20 Bajaj Electricals Ltd Non - Ferrous Metals 2.00 Hindustan Zinc Ltd National Aluminium Company Ltd Hotels, Resorts and Other Recreational Activities 1.89 The Indian Hotels Company Ltd Mahindra Holidays & Resorts India Ltd Fertilisers 1.71 Chambal Fertilisers and Chemicals Ltd Minerals/Mining 1.23 Coal India Ltd Textile Products 1.14 Raymond Ltd Telecom - Services 1.10 Bharti Airtel Ltd Construction 0.59 IRB Infrastructure Developers Ltd Milestone Global Ltd. ** 0.01 Diversified Consumer Services 0.40 CL Educate Ltd Total Equity Investment Funds/Mutual Funds 1.06 Principal Short Term Income Fund - Direct Plan - Growth Option 1.06 CBLO / Reverse Repo Investments 2.21 Cash & Cash Equivalents **Thinly traded/non traded securities and illiquid securities as defined in SEBI Regulations and Guidelines. Sector Allocation (Top 10) (As on December 29, 2017) (% of NAV) Banks 21.81% Consumer Non Durables 11.23% Pharmaceuticals 5.74% Construction Project 5.43% Auto 5.42% Chemicals 5.30% Cement 5.20% Software 5.19% Power 4.57% Finance 4.48% PRINCIPAL Growth Fund S&P BSE 200 Nifty 50 1 Year ( to ) Years ( to ) Years ( to ) Since Inception ( to ) Past performance may or may not be sustained in future. (in %) are calculated on Compounded Annualised Basis (CAGR). $ PTP (Point to Point) are based on standard investment of 10,000/- made at the beginning of relevant period. Performance Please refer page 7 & 8 for SIP returns and page 29 for annexure of returns for all scheme managed by the fund manager. Dividend (/Unit)* Cum Dividend NAV Dividend (/Unit)* Cum Dividend NAV 15-Dec Jun Dec Past performance may or may not be sustained in the future. * On face value of 10. Note: All Dividend (/Unit) figures are Gross Dividend. Pursuant payment of dividend, the NAV of Dividend Option of schemes/plans would fall to the extent of payout and statutory levy, if applicable. 10